Let's start with 1. The 🐘 elephant in the room.
1. Now, for a swing position on a daily timescales - this Bullish Divergence is golden. It's literally blaring off the charts like a fog horn through the muddy waters of technical analysis. Take note and build from this. We are 🐂 Bull biased.
Now that the elephant has been addressed we can scope out confluence for entry points.
Take a look at the GREEN BOX labeled 'Buy Strong Vol. Delta Cluster' - with this information we can be sure that the majority of volume is BULLISH, there is more weight in the buying power than the selling power.
Now inversely, look at the RED BOX labeled 'Sell into Vol. Delta Cluster' - within this area there is strong selling pressure, we'll want to look at EXITING our position in this area with added confluence from the Fixed Ranged Volume Profile tool, RVWAP and the GOLDEN Fibonacci areas of resistence. I'll address this is section 3.
2. I forecast the Price Action range starting Nov. 9 to end on Nov. 25. Today's (Nov. 26) candles is required to close (IF) above 9c with CONVICTION, we can look for entry points at retest VALUE AREAS.
If today's candles does close as required, we can be confident any pullbacks will work as a retest of volume VALUE AREAS.
This is where it get's interesting.
The confluence of the Weekly and Daily candles closes lays specifically on top of the VaH AND the PoC of the 16 BAR FIXED Volume Range - See horizontal Blue/Yellow bar drawn within the 16 bar range for reference.
We can use these two points of confluence as ENTRY Targets.
Now we have our confluence data for entries, we can look at where we should be taking profit. NO ONE ever goes broke by TAKING profit.
3. We want to EXIT is style.
TP1 abbreviated as 'Take Profit 1' is lined in confluence from the inital breakdown from Nov. 7 AND the ORANGE DOTTED 'Rolling VWAP' which indicates RESISTANCE. This marks for an excellent take profit mark of 11c. Dollar averaging at about 25% again on our position, IF we were to take two entries at 9c and 8.5c combined.
TP2 is where I would close the ENTIRE position and look at entering shorts...
The confluence in the Fixed Ranged Volume Profile RED LINE - PoC and Fibonacci Sequences of 0.66 and 0.618 swing High/Low retracement values 16c-7c.
ALSO, the DELTA VOLUME RED box of selling pressure from the previous HIGH range bound Price Action.
^^^
Many areas of confluence to close the entire position.
---
Close WHOLE position and look for smaller gain SHORT opportunities which would require further Technical Analysis at the time for exit plans.
1. Now, for a swing position on a daily timescales - this Bullish Divergence is golden. It's literally blaring off the charts like a fog horn through the muddy waters of technical analysis. Take note and build from this. We are 🐂 Bull biased.
Now that the elephant has been addressed we can scope out confluence for entry points.
Take a look at the GREEN BOX labeled 'Buy Strong Vol. Delta Cluster' - with this information we can be sure that the majority of volume is BULLISH, there is more weight in the buying power than the selling power.
Now inversely, look at the RED BOX labeled 'Sell into Vol. Delta Cluster' - within this area there is strong selling pressure, we'll want to look at EXITING our position in this area with added confluence from the Fixed Ranged Volume Profile tool, RVWAP and the GOLDEN Fibonacci areas of resistence. I'll address this is section 3.
2. I forecast the Price Action range starting Nov. 9 to end on Nov. 25. Today's (Nov. 26) candles is required to close (IF) above 9c with CONVICTION, we can look for entry points at retest VALUE AREAS.
If today's candles does close as required, we can be confident any pullbacks will work as a retest of volume VALUE AREAS.
This is where it get's interesting.
The confluence of the Weekly and Daily candles closes lays specifically on top of the VaH AND the PoC of the 16 BAR FIXED Volume Range - See horizontal Blue/Yellow bar drawn within the 16 bar range for reference.
We can use these two points of confluence as ENTRY Targets.
Now we have our confluence data for entries, we can look at where we should be taking profit. NO ONE ever goes broke by TAKING profit.
3. We want to EXIT is style.
TP1 abbreviated as 'Take Profit 1' is lined in confluence from the inital breakdown from Nov. 7 AND the ORANGE DOTTED 'Rolling VWAP' which indicates RESISTANCE. This marks for an excellent take profit mark of 11c. Dollar averaging at about 25% again on our position, IF we were to take two entries at 9c and 8.5c combined.
TP2 is where I would close the ENTIRE position and look at entering shorts...
The confluence in the Fixed Ranged Volume Profile RED LINE - PoC and Fibonacci Sequences of 0.66 and 0.618 swing High/Low retracement values 16c-7c.
ALSO, the DELTA VOLUME RED box of selling pressure from the previous HIGH range bound Price Action.
^^^
Many areas of confluence to close the entire position.
---
Close WHOLE position and look for smaller gain SHORT opportunities which would require further Technical Analysis at the time for exit plans.